In defence of E Clear..
Just to spell out the position:
(1) Globespan passenger pays for his flight/holiday through E-clear. E-clear pays money to Globespan 90 (?) days later. Financial reconciliation on date of payment.
(2) Globespan goes bust, E Clear responsible for repayment to all customers who paid by c/c (not debit card) who haven't started or completed their return travel. Financial reconciliation on return date of travel.
so..
(1) Appears to be agreed at £35 Million however
(2) is far more difficult to calculate, but provided E clear is holding more than the total amount required to refund all passengers who haven't yet completed their journeys then all affected passengers get all their money back (and then PwC administrators eventually get the balance remaining).
Isn't that what the consumer credit act is written to make sure happens ???
are we seeing E clear as scapegoat when in reality it was company failure due lack of profitable business ??